Knowing these three important budget numbers can help you pay off debt and save more for retirement in 2021
The start of a new year is a great time to set up financial goals.
Your first step should be to understand how much money you have and to find out where it is going, according to financial advisor Winnie Sun.
Sun recommends making a list of all of your financial assets, another with all of your debts and a third one listing how much money you spend per month.
Check out this video for more advice on what information you should include in the spreadsheets and to learn about four other financial moves you should make as 2021 starts.
More from Invest in You:
'Predictably Irrational' author says this is what investors should be doing during the pandemic
Coronavirus forced this couple into a 27-day quarantine amid their honeymoon cruise
How to prepare for a family member with Covid-19
SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.
CHECK OUT: Why January is a particularly great time to invest your money via Grow with Acorns+CNBC.
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.